Example 20 Anita takes a loan of Rs 5,000 at 15% per year as rate of interest. Find the interest she has to pay at the end of one year.
P = Rs 5000
R = 15% p.a
T = 1 year
S.I = 𝑃𝑅𝑇/100
= (5000 × 15 × 1)/100
= 50 × 15
= Rs 750
∴ Anita has to play Rs 750 as interest at the end of one year